Finance deal remains elusive at Cop29 as UN climate talks stretch into overtime - Negotiations at Cop29 in Baku, Azerbaijan were scheduled to finish on Friday evening but a final deal on climate finance remains elusive.

Fierce bargaining at UN climate talks in Azerbaijan dragged into Saturday after a $250 billion a year offer from rich nations was flatly refused by developing countries hardest hit by Earth’s rapid warming.

The European Union, United States and other wealthy countries at the COP29 climate summit have agreed to raise their offer of a global finance target to $300 billion per year by 2035, sources told Reuters on Saturday.

Political shenanigans, unrealistically lofty ambitions on financing and economies digging their heels on fossil fuels largely upended possibility of consensus at COP29.

A new draft deal at UN climate talks Friday proposes rich nations commit $250 billion a year to help poorer nations combat global warming in a bid to break the

COPs have been getting progressively longer; the excellent team at Carbon Brief extrapolated the trend line, which suggests COP29 will end in the small hours of Sunday morning. Even that may be optimistic.

The main goal of COP29 is to agree how much money richer developed countries will provide poorer developing ones to help them fight climate change.